{"id":305820,"date":"2024-01-05T21:16:47","date_gmt":"2024-01-06T03:16:47","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=305820"},"modified":"2024-01-08T11:35:04","modified_gmt":"2024-01-08T17:35:04","slug":"caesars-reportedly-loses-10-entertainment-executives","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/caesars-reportedly-loses-10-entertainment-executives\/","title":{"rendered":"Caesars Shakeup: Slew of Entertainment Execs Leave Casino Giant"},"content":{"rendered":"<p>Caesars Entertainment (NASDAQ: CZR) started 2024 by significantly pruning the ranks of entertainment executives, with as many as 10 such employees reportedly leaving the casino operator.<\/p>\n<figure id=\"attachment_190949\" aria-describedby=\"caption-attachment-190949\" data-style=\"width: 1200px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-190949\" src=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/11\/PH-142x107.jpg\" alt=\"Caesars asset sale\" width=\"1200\" height=\"900\" srcset=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/11\/PH-142x107.jpg 142w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/11\/PH-1024x768.jpg 1024w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/11\/PH-768x576.jpg 768w, https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/11\/PH.jpg 1200w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption  id=\"caption-attachment-190949\"class=\"text-description\">Planet Hollywood Resort &amp; Casino on the Las Vegas Strip. Up to 10 entertainment executives reportedly left Caesars Entertainment. (Image: <em>Visit Las Vegas<\/em>)<\/figcaption><\/figure>\n<p>The <em>Las Vegas Review-Journal<\/em> reported that on Tuesday, Jan. 2, up to 10 entertainment executives left the Horseshoe operator. That was the same day on which Amy Graca started her time as Caesars senior vice president of entertainment. The media outlet noted that neither the gaming company nor the executives returned requests for comment.<\/p>\n<div class=\"callout\">\n<p>It\u2019s believed that Mike Hodin, Amy Naples, Paul Shilsky, Jessica Tindor, Mark Weinstein, and Chris Yancey are among the entertainment executives that have left Caesars. It\u2019s possible, though not confirmed, those moves are related to Caesars President of Entertainment Jason Gastwirth ending his 13-year stint with the company on Dec. 31, 2023.<\/p>\n<\/div>\n<p>Caesars <a href=\"https:\/\/www.casino.org\/news\/caesars-mgm-draw-bullish-praise-as-las-vegas-ggr-rises\/\">is the second-largest operator<\/a> on the Las Vegas Strip, behind only MGM Resorts International (NYSE: MGM).<\/p>\n<h2>Implications of Shakeup at Caesars<\/h2>\n<p>Some executive upheaval at Caesars isn\u2019t surprising. When Eldorado Resorts <a href=\"https:\/\/www.casino.org\/news\/eldorado-seals-caesars-deal-largest-gaming-company-created\/\">completed its $17.3 billion<\/a> takeover of the Harrah\u2019s operator in July 2020, the buyer\u2019s management team took the lead at \u201cnew Caesars.\u201d<\/p>\n<p>It\u2019s not clear if the aforementioned departures stem from the Eldorado takeover. But when that company\u2019s CEO Tom Reeg took the helm at Caesars, cost cuts were promised, indicating some management pruning would likely occur.<\/p>\n<div class=\"callout\">\n<p>Reeg and team were also tasked with integrating two different corporate cultures, something that\u2019s often a thorn in the side of buyers \u2014 regardless of industry \u2014 in large mergers and acquisitions. Under Reeg\u2019s stewardship, ERI developed a reputation for empowering managers to run individual properties as they see fit, but also became known for intense scrutiny on cost efficiencies.<\/p>\n<\/div>\n<p><strong>On the Strip, Caesars operates iconic venues Caesars Palace, Flamingo Las Vegas, Bally\u2019s Las Vegas, LINQ Hotel &amp; Casino, Paris Las Vegas, and Planet Hollywood Resort &amp; Casino.<\/strong><\/p>\n<h2>Margins Matter<\/h2>\n<p>For now, it\u2019s just speculation. But the reconfiguration of Caesars\u2019 entertainment executive ranks could also be the product of <a href=\"https:\/\/www.casino.org\/news\/caesars-mgm-could-be-consumer-cyclical-leaders-in-2024\/\">an increased focus<\/a> on profit margins.<\/p>\n<p>The Strip is one of the most competitive live entertainment environments in the U.S. An efficient avenue for operators to wring the most benefit from concerts and shows is to deliver big-name acts while eschewing lower margin, lesser-known fare.<\/p>\n<p><strong>The Colosseum at Caesars Palace is a prime example of that theme. Acts there include residencies for Adele and Garth Brooks, as well as Jerry Seinfeld \u2013 all of which have significant star power. With success, Caesars has employed a similar emphasis at Planet Hollywood, while scaling back on lower-tier entertainment options that don\u2019t generate significant profits.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Caesars Entertainment (NASDAQ: CZR) started 2024 by significantly pruning the ranks of entertainment executives, with as many as 10 such employees reportedly leaving the casino operator. The Las Vegas Review-Journal reported that on Tuesday, Jan. 2, up to 10 entertainment executives left the Horseshoe operator. That was the same day on which Amy Graca started [&hellip;]<\/p>\n","protected":false},"author":46,"featured_media":190949,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,3313,81886,1],"tags":[81897,81990,23,81967],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Caesars Reportedly Loses 10 Entertainment Executives<\/title>\n<meta name=\"description\" content=\"Caesars Shakeup: Slew of Entertainment Execs Leave Casino Giant.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/caesars-reportedly-loses-10-entertainment-executives\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Caesars Reportedly Loses 10 Entertainment Executives\" \/>\n<meta property=\"og:description\" content=\"Caesars Shakeup: Slew of Entertainment Execs Leave Casino Giant.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/caesars-reportedly-loses-10-entertainment-executives\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2024-01-06T03:16:47+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-01-08T17:35:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/11\/PH.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"900\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/caesars-reportedly-loses-10-entertainment-executives\/\",\"url\":\"https:\/\/www.casino.org\/news\/caesars-reportedly-loses-10-entertainment-executives\/\",\"name\":\"Caesars Reportedly Loses 10 Entertainment Executives\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-reportedly-loses-10-entertainment-executives\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-reportedly-loses-10-entertainment-executives\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/11\/PH.jpg\",\"datePublished\":\"2024-01-06T03:16:47+00:00\",\"dateModified\":\"2024-01-08T17:35:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"Caesars Shakeup: Slew of Entertainment Execs Leave Casino Giant.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/caesars-reportedly-loses-10-entertainment-executives\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/caesars-reportedly-loses-10-entertainment-executives\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/caesars-reportedly-loses-10-entertainment-executives\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/11\/PH.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2021\/11\/PH.jpg\",\"width\":1200,\"height\":900,\"caption\":\"Planet Hollywood Resort & Casino on the Las Vegas Strip. Up to 10 entertainment executives reportedly left Caesars Entertainment. 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Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. 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Todd got his start in financial markets as a reporter with Bloomberg News. Later, he became a trader at a Southern California-based long\/short hedge fund, where he specialized in the trading sector and international ETFs leading up to and during the financial crisis. He joined Casino.org in 2019. Currently, Todd analyzes, researches, and writes on ETFs for various web-based publications and financial services firms. Shriber has been featured and quoted in Barron's, CNBC.com, and The Wall Street Journal. His work can also be found on Benzinga, ETF Daily News, ETF Trends, MarketWatch, Fox Business, and Nasdaq.com. He currently resides in Las Vegas, where he enjoys golf and taking his black lab to the dog park. He's also an avid sports fan and likes to wager on college football and the NBA. You can also find him at the three-card poker and roulette table, even though he knows better. 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